TOP 5: What to watch this week in financial news

Top 5

What to watch this week in financial news

November 26, 2007

1. GDP outlook turning chilly

Because the onset of autumn has cast a decided chill over the landscape, economists are likely to ignore any good news seen in Thursday's numbers for third-quarter gross domestic product. Chicago economist William Hummer looks for a number near the robust 3.9 percent growth rate reported earlier. But Hummer, of Wayne Hummer Investments, says current expansion has slipped to about 1.9 percent.

2. Cyber Monday mania

Just in case you missed out on any of the shopping mania that began before Thanksgiving, there's another chance, but it will involve using your computer. The week begins with Cyber Monday, when Internet shoppers typically roll up $700 million or more in online sales. Retail analysts say that shopping over the Internet is likely to advance by 20 percent this holiday season.

3. A poor attitude

The mood of Americans gets an important test Tuesday, with the monthly consumer confidence survey from the Conference Board. Attitudes are near a two-year low, although there was slight improvement seen in last week's final November survey by the University of Michigan. It found sentiment at 76.1, down from 80.9 in October. A year ago, it was 92.1.

4. Light, sweet, near $100

Will this be the week for $100 oil? There's an air of inevitability that the century mark will be breached. A barrel of crude ended last week at $98.18. For what it's worth, they report that the inflation-adjusted all-time high for crude is $102 a barrel, dating to 1980.

5. Pinning hopes on tech

With November down to its final few days, some investors are wondering what became of the year-end rally? Stocks have fallen nearly 10 percent from their recent record levels. Mutual fund manager Henry Van der Eb said the current situation offers a direct opposite of the bear market that accompanied the dot-com bubble's collapse seven years ago. "Then, people were seeking refuge in financial stocks, while now they are looking to high-technology," said Van der Eb, of the Gamco Mathers Fund in Bannockburn.